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Azerbaijani Politics Oil / Natural Gas / Green Energy

Will COP29 become a milestone in Azerbaijan’s long-term energy strategy?

COP29 çərçivəsində “SOCAR Green” və “PowerChina” şirkətləri arasında Anlaşma Memorandumu imzalanıb | Şərq qapısı

Despite its heavy reliance on fossil fuel exports for many years, Azerbaijan has now shifted its long-term energy strategy by steadily switching to renewable energy sources.

Thus, the 29th Conference of the Parties to the UN Framework Convention on Climate Change (COP29) in Baku became a vital platform for Azerbaijan’s main energy giant SOCAR and its affiliate SOCAR Green LLC (established in December 2023) to ink new agreements with countries and companies in the field of green energy, smart technologies and decarbonisation.

Focus on gas

It is noteworthy that SOCAR started supplying North Macedonia with natural gas on November 15, while Azerbaijan was hosting the major climate event on its soil. Considering that natural gas is the cleanest fossil fuel, in contrast to crude oil, Baku did not hesitate to announce the new partnership during COP29.